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 <h2 id="binance-no-longer-majority-stakeholder-of-gopax">Binance No Longer Majority Stakeholder of Gopax?</h2> 
 <p>Gopax, one of the largest crypto exchanges in <a rel="noopener noreferrer nofollow" title="South Korea" href="https://thebittimes.com/tag/south-korea.html">South Korea</a>, has signed a purchase and sale contract with a domestic crypto exchange, a local media reported on August 25.</p>  
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 <p>Gopax team met with representatives of another crypto exchange and signed a contract to acquire a majority stake in the troubled crypto exchange. Therefore, the major shareholder of Gopax will possibly become a new acquirer. The details of the acquisition party are not revealed and Gopax expects to make an official announcement next week.</p> 
 <blockquote> 
  <p>“I know that a new acquirer has recently completed a purchase and sale contract with me. The exact information on the acquirer is being thoroughly concealed as confidential even within Gopax, but I know that it will be officially announced next week.”</p> 
 </blockquote> 
 <p>However, a Gopax official has denied an acquisition contract signed by another crypto exchange. He said, “This is not true, and there is nothing we can confirm about the acquisition.”</p>  
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 <p>Meanwhile, Gopax announced yesterday that it had paid some of the outstanding funds to its wealth management product GoFi, which suspended withdrawals after Genesis suspended customer withdrawals and redemptions.</p> 
 <p><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>’s acquisition of Gopax suffered roadblocks amid regulatory pressure from <a rel="noopener noreferrer nofollow" title="South Korea" href="https://thebittimes.com/tag/south-korea.html">South Korea</a>’s Financial Services Commission (FSC) and the U.S. SEC. In fact, <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> was in the final steps to complete the acquisition deal, but the SEC lawsuit worsen the situation.</p>  
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 <p><strong>Also Read: FTX Claims Agent Kroll’s Cybersecurity Breach Compromised Claimants Data</strong></p> 
 <h2 id="binance-challenges-us-sec">Binance Challenges US SEC</h2> 
 <p><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> has hired top lawyers to challenge the US SEC and reduce the SEC’s influence on the digital asset industry. Along with others such as Coinbase and Ripple, <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> also believes that the SEC is acting outside its regulatory oversight and jurisdiction.</p> 
 <p>Recently, attorney&nbsp;Andrew Rhys Davies filed a motion to appear pro hac vice in support of <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>. The attorney comes in as <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>US seeks protective order&nbsp;from the court in response to the SEC’s exceeding the agreed-upon consent order.</p> 
 <p><strong>Also Read: Whale Moves Over $15 Million XRP To Exchange, Potential Nosedive To $0.42</strong></p> 
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Binance's Acquisition Deal With Gopax Reportedly Failed

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